SiBone (NASDAQ:SIBN) Issues Quarterly Earnings Results, Beats Estimates By $0.07 EPS

SiBone (NASDAQ:SIBN) released its earnings results on Monday. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.07, FiscalAI reports. SiBone had a negative return on equity of 11.01% and a negative net margin of 9.41%.The firm had revenue of $52.59 million for the quarter, compared to the consensus estimate of $51.16 million.

SiBone Stock Down 5.0%

Shares of SIBN stock traded down $0.61 during trading hours on Monday, reaching $11.66. The company had a trading volume of 1,745,464 shares, compared to its average volume of 625,006. SiBone has a twelve month low of $11.48 and a twelve month high of $21.89. The stock’s fifty day simple moving average is $13.56 and its 200 day simple moving average is $16.19. The company has a debt-to-equity ratio of 0.20, a quick ratio of 7.21 and a current ratio of 8.55. The company has a market capitalization of $515.89 million, a P/E ratio of -26.50 and a beta of 0.67.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Wall Street Zen lowered SiBone from a “buy” rating to a “hold” rating in a research note on Saturday, April 18th. Truist Financial lowered their target price on SiBone from $24.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday, April 15th. Finally, TD Cowen increased their target price on SiBone from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, February 24th. Six equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, SiBone presently has an average rating of “Moderate Buy” and a consensus target price of $24.00.

Insider Activity

In other SiBone news, CEO Laura Francis sold 93,475 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $15.32, for a total transaction of $1,432,037.00. Following the completion of the sale, the chief executive officer owned 544,369 shares in the company, valued at $8,339,733.08. This trade represents a 14.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Anshul Maheshwari sold 3,318 shares of the firm’s stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $12.87, for a total value of $42,702.66. Following the sale, the chief financial officer owned 263,148 shares of the company’s stock, valued at approximately $3,386,714.76. This trade represents a 1.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 167,697 shares of company stock worth $2,549,984 over the last quarter. Corporate insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On SiBone

A number of hedge funds have recently bought and sold shares of the business. Royal Bank of Canada grew its stake in SiBone by 98.5% during the 4th quarter. Royal Bank of Canada now owns 1,483 shares of the company’s stock valued at $29,000 after purchasing an additional 736 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in SiBone by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,426 shares of the company’s stock valued at $343,000 after purchasing an additional 1,053 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in SiBone by 4.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 37,159 shares of the company’s stock valued at $733,000 after purchasing an additional 1,459 shares in the last quarter. Tudor Investment Corp ET AL grew its stake in SiBone by 0.6% during the 4th quarter. Tudor Investment Corp ET AL now owns 259,589 shares of the company’s stock valued at $5,119,000 after purchasing an additional 1,557 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its stake in SiBone by 64,700.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,944 shares of the company’s stock valued at $38,000 after purchasing an additional 1,941 shares in the last quarter. Institutional investors and hedge funds own 98.11% of the company’s stock.

About SiBone

Si-BONE, Inc is a commercial‐stage medical device company focused on the design, development and commercialization of implant systems to treat degenerative conditions of the sacroiliac (SI) joint. Its flagship product, the iFuse Implant System, consists of triangular titanium implants that are inserted via a minimally invasive surgical procedure to stabilize the SI joint and alleviate chronic lower back and buttock pain.

FDA‐cleared in 2012, the iFuse portfolio has expanded to include the iFuse-3D and iFuse-3Di devices, which feature a porous, 3D-printed surface to promote bone ongrowth and biological fixation.